Singapore Hospitality Market Growth, Trends, Demand, Size, Revenue, Share and Future Outlook
Singapore Hospitality Market Size- By Type, By Segment- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Oct-2023 | Report ID: TRAT2312 | Pages: 1 - 105 | Formats*: |
| Category : Travel & Tourism | |||
Singapore Hospitality Market Introduction and Overvie
According to SPER Market Research, the Singapore Hospitality Market is estimated to reach USD XX billion by 2033 with a CAGR of 7.1%.
The report includes an in-depth analysis of the Singapore Hospitality Market, including market size and trends, product mix, Applications, and supplier analysis. Providing services to patrons in hotels, restaurants, and bars is referred to as hospitality. Any company whose principal source of revenue is the selling of food and beverages or the supply of lodging is considered to be in the hospitality industry. Numerous service-related industries, including those associated to hotels, restaurants, bars, event organising, theme parks, transportation, cruise lines, and other aspects of tourism, are included in this sector.
Market Opportunities and Challenges
- Opportunities: The increased usage of technology to improve services provided at hospitality centres including hotels, cafes, restaurants, and other establishments is expected to enhance the size of the hospitality market. The consistent economic expansion that is anticipated in many developed and developing countries will also support the growth of the hospitality business. It is also anticipated that recovering commodity prices, which experienced a considerable decrease in the recent past, will support market expansion. Additionally, consistent growth is anticipated in developed economies over the predicted period. Additionally, during the projected period, emerging markets are anticipated to grow a little bit faster than developed markets. As a result, the market is anticipated to rise steadily over the course of the projected period.
- Challenges: The increasing frequency of problems with online reservations or bookings that result in really unpleasant circumstances is one of the primary challenges facing the Singapore hospitality market. The facility's information technology (IT) system must be upgraded in order to address this issue and eliminate any errors brought on by malfunctions.
Market Competitive Landscape
Both domestic and foreign players are present in Singapore's hotel and lodging industries. The majority of hotels are thoughtfully positioned in tourist destinations that are widely favoured by travellers. Since there are fewer hotels in the area than there are travellers, there is a healthy demand for them. Due to the cooperative government policies, the region is appealing to investors. The major players in the market include: Accor S A, Far East Hospitality, Forward Land, Hotel 81, InterContinental Hotels Group Plc, Marina Bay Sands, Marriott international, Millennium & Copthorne International Limited, Pan Pacific Hotels Group, Shangri-La hotels & resorts, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Segment |
| Regions covered | Eastern Region, Northern Region, Southern Region, Western Region |
| Companies Covered | Accor S A, Far East Hospitality, Forward Land, Hotel 81, InterContinental Hotels Group Plc, Marina Bay Sands, Marriott international, Millennium & Copthorne International Limited, Pan Pacific Hotels Group, Shangri-La hotels & resorts, Others |
COVID-19 Impact on Singapore Hospitality Market
The pandemic significantly hampered the growth of Singapore's hospitality industry. It was one of the first industries to suffer losses from the start of the epidemic until the end of the first quarter of 2021, when the bulk of travel borders opened and allowed tourists to visit other regions and utilise services offered by the hotel industry. Even though the market is still recuperating from its losses, it is anticipated to grow significantly in the years to come.
Key Target Audience:
- Airline Industry
- Business Travelers
- Event Management Companies
- Hospitality Businesses
- Restaurants and Food Services
- Tourism Promotion Boards
- Tourists and Leisure Travelers
- Travel Agencies and Tour Operators
- Others
Our in-depth analysis of the Singapore Hospitality Market includes the following segments:
| By Type: |
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| By Segment: |
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Key Topics Covered in the Report:
- Singapore Hospitality Market Size (FY’2023-FY’2033)
- Overview of Singapore Hospitality Market
- Segmentation of Singapore Hospitality Market By Type (Chain Hotels, Independent Hotels)
- Segmentation of Singapore Hospitality Market By Segment (Budget and Economy Hotels, Luxury Hotels, Mid and Upper Mid-Scale Hotels, Service Apartments)
- Statistical Snap of Singapore Hospitality Market
- Expansion Analysis of Singapore Hospitality Market
- Problems and Obstacles in Singapore Hospitality Market
- Competitive Landscape in the Singapore Hospitality Market
- Impact of COVID-19 and Demonetization on Singapore Hospitality Market
- Details on Current Investment in Singapore Hospitality Market
- Competitive Analysis of Singapore Hospitality Market
- Prominent Players in the Singapore Hospitality Market
- SWOT Analysis of Singapore Hospitality Market
- Singapore Hospitality Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Singapore Hospitality Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Singapore Hospitality Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Singapore Hospitality Market
7. Singapore Hospitality Market, By Type (USD Million)
7.1. Singapore Hospitality Market Value Share and Forecast, By Type, 2023-20337.2. Chain Hotels7.3. Independent Hotels
8. Singapore Hospitality Market, By Segment (USD Million)
8.1. Singapore Hospitality Market Value Share and Forecast, By Segment, 2023-20338.2. Budget and Economy Hotels8.3. Luxury Hotels8.4. Mid and Upper Mid-Scale Hotels8.5. Service Apartments
9. Singapore Hospitality Market Forecast, 2019-2033 (USD Million)
9.1. Singapore Hospitality Market Size and Market Share
10. Singapore Hospitality Market, By Type, 2019-2033 (USD Million)
10.1. Singapore Hospitality Market Size and Market Share By Type (2019-2026)10.2. Singapore Hospitality Market Size and Market Share By Type (2027-2033)
11. Singapore Hospitality Market, By Segment, 2019-2033 (USD Million)
11.1. Singapore Hospitality Market Size and Market Share By Segment (2019-2026)11.2. Singapore Hospitality Market Size and Market Share By Segment (2027-2033)
12. Singapore Hospitality Market, By Region, 2019-2033 (USD Million)
12.1. Singapore Hospitality Market Size and Market Share By Region (2019-2026)12.2. Singapore Hospitality Market Size and Market Share By Region (2027-2033)12.3. Eastern Region12.4. Northern Region12.5. Southern Region12.6. Western Region
13. Company Profile
13.1. Accor S A13.1.1. Company details13.1.2. Financial outlook13.1.3. Product summary13.1.4. Recent developments13.2. Far East Hospitality13.2.1. Company details13.2.2. Financial outlook13.2.3. Product summary13.2.4. Recent developments13.3. Forward Land13.3.1. Company details13.3.2. Financial outlook13.3.3. Product summary13.3.4. Recent developments13.4. Hotel 8113.4.1. Company details13.4.2. Financial outlook13.4.3. Product summary13.4.4. Recent developments13.5. InterContinental Hotels Group Plc13.5.1. Company details13.5.2. Financial outlook13.5.3. Product summary13.5.4. Recent developments13.6. Marina Bay Sands13.6.1. Company details13.6.2. Financial outlook13.6.3. Product summary13.6.4. Recent developments13.7. Marriott international13.7.1. Company details13.7.2. Financial outlook13.7.3. Product summary13.7.4. Recent developments13.8. Millennium & Copthorne International Limited13.8.1. Company details13.8.2. Financial outlook13.8.3. Product summary13.8.4. Recent developments13.9. Pan Pacific Hotels Group13.9.1. Company details13.9.2. Financial outlook13.9.3. Product summary13.9.4. Recent developments13.10. Shangri-La hotels & resorts13.10.1. Company details13.10.2. Financial outlook13.10.3. Product summary13.10.4. Recent developments13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Singapore Hospitality Market is projected to reach USD XX billion by 2033, growing at a CAGR of 7.1% during the forecast period.
Singapore Hospitality Market grew in market size from 2023. The Market is expected to reach USD XX billion by 2033, at a CAGR of 7.1% during the forecast period.
Singapore Hospitality Market CAGR of 7.1% during the forecast period.
"You can get the sample pages by clicking the link -Click Here"
Singapore Hospitality Market size is USD XX billion from 2023 to 2033.
Singapore Hospitality Market Segment is Covered By Type, By Segment
The Asia-Pacific region is anticipated to have the highest market share in Singapore Hospitality Market.
The key players in the market include Companies Covered BP Plc, Shell Plc, Petronas Gas Bhd, Chevron Corporation, ExxonMobil Corporation, Malaysiaian General Petroleum Corporation, Altus Oil & Gas Malaysia Sdn. Bhd., Petro-Excel Sdn Bhd (PESB), Petro Teguh (M) Sdn. Bhd., and Malaysiaian Natural Gas Holding Company
The increasing frequency of problems with online reservations or bookings that result in really unpleasant circumstances is one of the primary challenges facing the Singapore hospitality market.
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